sleepless night

reallyskint_2

Hi I new to this forum and have been having sleepless nights.

Here is my SOA any suggestions would be appreciated.

Salary - 1605
OH Salary - 800

Total income = 2405

House - 582.00
Water - 15.00
Council Tax - 91.00
Gas - 20.00
Elec - 20.00
Building & contents insurance - 12.70
Life insurance - 9.90
Tv Licence - 12.12
Pet insurance - 39.40
Car insurance - 92.00
Petrol - 260.00
Food etc - 300.00
car Loan -215.00

Total outgoings = 1669.12

Surplus = 735.88

Debts

Car Loan - 5160.00
Halifax Credit card - 3120.00
RBS credit card - 7210.00
Abbey loan - 9160.00

Total debt = 24,650.00.

I know it seams like we have a lot of money spare to pay the debts but we never seam to be able to pay a lot on the credit cards and whenever an emergency arises e.g car breakdown, expensive service etc we have to put it on the card as we have paid all our spare money on the cards so have no cash left to pay for things like that.......not sure where all our money goes! :eek:

The Abbey loan a bit complicated as it is from an ex from about 5 years ago it was in joint names, so really i only owe half but the loan company don't seam to see it that way !

JamieT1977

How would you break the 300 food etc bit down? In other words what is the etc

MyopicMoo

Hi and well done for posting. It looks like you could cut a little here and there. Food and petrol seem pretty high - is there any way you could cut these back? If you post the monthly payments and the APRs the lovely people on here will be able to give you more specific advice.

If you look at the sticky at the top of the forum you will find a link for the SOA which will make sure all your payments are outlined (eg. road tax, service, mot, birthdays, Christmas, clothes)

Good luck

reallyskint_2

The food etc meant it includes £9.50 pet food, any toiletries needed and clothes we buy from the supermarket too , usually about £7.00 a trip.


Petrol is high because we both work a long way from where we live I do 374 miles a week and the OH does 195 we have been trying to walk other than work travel to save some money as the price keeps going up and up.

Will have to dig paperwork out for monthly apr's etc

Of course I did not put any money down for road tax etc, probably because we do not save any money for them we just end up putting them on the credit card..... arrrrggghhhh

Will dig extra info out and post more, glad it looks like I can cut back a bit more though....will start money diary today too, thanks

JamieT1977

Use the SOA thread to use a more detailed breakdown.

Deep_In_Debt

Your pet insurance and car insurance seem high. Can you shop around for these?

McKneff

As deep in Debt says, your pet ins and car ins is high.

could you have made a mistake, it seems over the top

mrs:optimist_2

Hi, just to let you know that I have pet insurance with Healthy Pets and I pay £10.54 per month and that covers our 3 cats! The excess isn't too high either, they have saved us loads of money as for years we were with Pet Plan for the same cover and they fleeced us!

HTH